Peugeot Profit down report july 25 2012

Peugeot Profit down report july 25 2012 : Peugeot said today that recurring operating profit plunged to 4 million euros in the first half from 1.16 billion euros a year earlier on slumping demand in Europe.

The Paris-based automaker plans to reduce costs by an additional 1.5 billion euros by lowering production, spending less on factories outside Europe and stepping up cooperation with GM. Ford Motor Co. (F) (F) today forecast a full-year loss exceeding $1 billion at its European operations that will hurt the U.S. company’s group earnings

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